Palantir Technologies (NASDAQ:PLTR) Trading 1.6% Higher – Still a Buy?

Palantir Technologies Inc. (NASDAQ:PLTR)’s share price shot up 1.6% during mid-day trading on Friday . The company traded as high as $168.80 and last traded at $168.4380. 17,179,487 shares changed hands during trading, a decline of 79% from the average session volume of 81,605,203 shares. The stock had previously closed at $165.77.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PLTR. Citigroup boosted their target price on shares of Palantir Technologies from $190.00 to $210.00 and gave the company a “neutral” rating in a research report on Wednesday, November 5th. Wedbush set a $200.00 price objective on shares of Palantir Technologies and gave the company an “outperform” rating in a research report on Tuesday, August 5th. CICC Research upped their target price on Palantir Technologies from $128.00 to $150.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 12th. Morgan Stanley lifted their price target on Palantir Technologies from $155.00 to $205.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 4th. Finally, Mizuho boosted their price target on Palantir Technologies from $165.00 to $205.00 and gave the stock a “neutral” rating in a report on Tuesday, November 4th. Five analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $172.28.

Palantir Technologies Stock Up 1.6%

The stock has a 50 day moving average price of $179.76 and a 200 day moving average price of $159.25. The stock has a market capitalization of $401.46 billion, a price-to-earnings ratio of 401.05, a price-to-earnings-growth ratio of 6.43 and a beta of 2.63.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings data on Monday, November 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.04. Palantir Technologies had a return on equity of 15.48% and a net margin of 28.11%.The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the prior year, the firm posted $0.10 earnings per share. The firm’s revenue was up 62.8% compared to the same quarter last year. Palantir Technologies has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Sell-side analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 149,872 shares of Palantir Technologies stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $163.99, for a total transaction of $24,577,509.28. Following the transaction, the insider directly owned 642,786 shares of the company’s stock, valued at approximately $105,410,476.14. The trade was a 18.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ryan D. Taylor sold 36,048 shares of the company’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $162.36, for a total value of $5,852,753.28. Following the completion of the sale, the insider owned 251,409 shares in the company, valued at $40,818,765.24. This trade represents a 12.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,146,892 shares of company stock valued at $186,381,382 in the last quarter. Insiders own 9.23% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in PLTR. Revolve Wealth Partners LLC acquired a new position in shares of Palantir Technologies in the 4th quarter worth approximately $450,000. Bison Wealth LLC raised its stake in Palantir Technologies by 37.4% during the fourth quarter. Bison Wealth LLC now owns 17,130 shares of the company’s stock worth $1,296,000 after buying an additional 4,667 shares during the last quarter. Capstone Wealth Management Group LLC lifted its holdings in Palantir Technologies by 38.0% in the first quarter. Capstone Wealth Management Group LLC now owns 17,147 shares of the company’s stock valued at $1,447,000 after buying an additional 4,722 shares during the period. Assetmark Inc. boosted its position in Palantir Technologies by 775.0% during the first quarter. Assetmark Inc. now owns 10,421 shares of the company’s stock valued at $880,000 after acquiring an additional 9,230 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its position in Palantir Technologies by 12.7% during the first quarter. Mackenzie Financial Corp now owns 265,937 shares of the company’s stock valued at $22,445,000 after acquiring an additional 29,958 shares during the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

About Palantir Technologies

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.